The Indian equity benchmark indices opened over one percent higher on Monday following Asian peers that bounced on policy stimulus hopes.

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At 9:15 am, the Sensex gained 331.82 points or 1.06 percent to open at 31,659.04 and the Nifty50 index opened at 9,259.70, up 105.30 points or 1.15 percent.

All sectoral indices were trading higher led by Nifty Bank, Nifty Auto, Nifty Metals, Nifty Media and Nifty Realty.

Broader indices outperformed the benchmark indices and supported gains, with Nifty Smallcap100 and Nifty Midcap100 indexes up 1.70 percent each.

IndusInd Bank, Zee Entertainment, Cipla, Hindalco Industries and Reliance Industries led gains among Nifty50 constituents. There were no losers in the Nifty50 index.

Meanwhile, Asian shares bounced on Monday as the Bank of Japan (BOJ) announced more stimulus steps to help cushion the economic impact of the coronavirus, while oil took another spill as the world ran short of space to store it all.

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